Rapidly growing companies in China and other emerging markets are seizing market share and outperforming competitors in industries from technology to aviation, according to a report from Boston Consulting Group.

The report, released Monday, identifies 100 companies that the consultancy says could form the next generation of corporate powerhouses based on their growth potential and their business strategies. These companies — which the management-consulting firm terms the global challengers — include 28 from China, including Alibaba Group Holding Ltd., state-owned conglomerate Citic Group, entertainment and property giant Dalian Wanda Group Co., Xiaomi Corp. and China Eastern Airlines Corp.

“We believe these companies represent the next wave of economic growth,” said Dinesh Khanna, a senior partner at Boston Consulting Group. “Chinese companies are the largest block on this list, so by the sheer size of the position, they will have more impact than anyone else.”

The management-consulting firm said its research shows that the up-and-comers are adept at navigating volatile markets and uncertain economies and, overall, they’ve quadrupled their overseas revenue from 2005 to 2014 to $944 billion. Revenue and profit margins for the 100 companies studied have largely held steady during economic volatility in their countries, outperforming their competitors, the report said.

These companies are also increasingly buying foreign firms to achieve scale, upgrade technology and expand in new markets, according to the report. For example, China National Chemical Corp.’s $43 billion offer this year to buy Swiss seeds-and-pesticides company Syngenta would help China boost agricultural production and could further open the tightly regulated Chinese market for biotech crops.

While Chinese companies have become more sophisticated about pursuing foreign acquisitions, many still face a learning curve. These companies are figuring out how to navigate cultural barriers and build trust with potential foreign partners–factors that could impact the success of future deals, according to Dominique Jolly, chair of the Walker School of Business and Technology at Webster University in Switzerland.

In the past, Chinese companies looked abroad for natural resources for the domestic market. As the Chinese economy slows, companies will also need to explore new markets overseas for growth, according to Mr. Khanna.